Unemployment rate falls as part-time work spikes
The Australian economy has posted better than expected job numbers, but wages growth remains a problem.
More than 21,600 new jobs have been created over the past month, lowering the unemployment rate to five per cent.
The issue, however, is the jobs were all part-time.
Victoria and New South Wales have posted the lowest unemployment rates in the country, with Queensland not far behind.
TD Securities chief economist Annette Beacher tells Ross Greenwood it’s a “balanced labour market”.
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